Citigroup Has Lowered Expectations for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO - Free Report) had its price target reduced by Citigroup from $38.00 to $35.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the textile maker's stock.

Other research analysts have also recently issued reports about the company. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Piper Sandler decreased their price objective on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Thursday. Finally, Telsey Advisory Group decreased their price objective on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $40.33.

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Steven Madden Stock Down 7.1 %

Shares of Steven Madden stock traded down $2.34 on Thursday, hitting $30.45. 1,635,008 shares of the company were exchanged, compared to its average volume of 860,110. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.96 and a beta of 1.07. The company has a 50-day moving average price of $39.83 and a 200 day moving average price of $43.41. Steven Madden has a 1-year low of $30.42 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to analysts' expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Research analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, March 10th. Steven Madden's payout ratio is 35.74%.

Institutional Trading of Steven Madden

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in Steven Madden in the third quarter valued at approximately $36,000. R Squared Ltd purchased a new stake in Steven Madden in the fourth quarter valued at approximately $55,000. Quarry LP raised its position in Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after purchasing an additional 1,110 shares during the period. Blue Trust Inc. raised its position in Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker's stock valued at $79,000 after purchasing an additional 785 shares during the period. Finally, International Assets Investment Management LLC raised its position in Steven Madden by 4,800.0% in the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after purchasing an additional 1,872 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.